Neo Lithium Announces New Positive Drill Results and Significant Initial Pump Tests for 3Q Project

Neo Lithium Announces New Positive Drill Results and Significant Initial Pump Tests for 3Q Project

Neo Lithium Announces New Positive Drill Results and Significant Initial Pump Tests for 3Q Project

  • Drill hole PP1-D-5 located in the center of the Northern Target yielded an average of 1,024 mg/L lithium over 63 metres including 1,400 mg/L of lithium over 20 metres.
  • Drill hole PP1-D-3 completed 2km south of the Northern Target, where surface lithium grades were 190 mg/L, yielded an average lithium grade of 528 mg/L across 192 metres, indicating the potential for a much larger lithium deposit than previously anticipated, extending the Northern Target at depth to the south.
  • Pump tests at Platform 3 show that the aquifer can produce at a remarkable rate of 200 m3/h.

Neo Lithium Announces New Positive Drill Results and Significant Initial Pump Tests for 3Q Project

TORONTO, ON – (February 28, 2017) – Neo Lithium Corp. (“Neo Lithium” or the “Company”) (TSX VENTURE: NLC) is pleased to report results from its ongoing drilling program at the Tres Quebradas lithium brine project (“3Q Project”) in Catamarca Province, Argentina.

The main target of the 3Q Project is known as the Northern Target, an area originally identified by surface sampling with an average lithium concentration of 895 mg/L and potassium concentration of 7,694 mg/L that extended for approximately an area covering 4 km by 14 km (please refer to Neo Lithium’s press release on July 20th, 2016 and the Company’s current technical report).

The drilling plan for the season was to complete five drill platforms (with two holes in each platform) in the Northern Target to test the target at depth and three drill platforms (with two holes in each platform) outside the Northern Target to test at depth the areas with surface low lithium grade. This press release present chemical results of 4 drill holes in 3 platforms from the Northern Target and 2 drill holes from 2 platforms outside the Northern Target. No further drill hole results have been received as of this press release and the Company will continue to inform the market as additional information is available.

The Company currently has three rigs drilling simultaneously, including two diamond drill rigs and one rotary drill rig. The two diamond drills collect core samples to understand the geology of the salar and send core samples to Daniel B. Stephens & Associates, Inc. laboratory in the US to measure drainable porosity, a parameter needed to estimate resources at a salar. The diamond drill rigs are also used to collect brine samples at different intervals using the “packer” technique. Packers are rubber donuts that isolate aquifers at depth, allowing the sampling of brine at specific depths and therefore monitoring changes in chemistry. Finally, the diamond drill holes are piped and screened and used as monitoring wells (piezometers). At the same platform where a diamond drill hole is completed, a rotary drill is used to drill a twin hole located 10 metres to 20 metres away from the diamond drill hole to make a production well. The well, which is 12 inches wide, is installed with 8 inch screen pipe following the geology found in the diamond drill hole to ensure that the screen matches the aquifer. Downhole geophysics is done in each well to pin point the brine aquifers.

Drill Results in the Northern Target:

Platform 5: located in the center of the Northern Target, immediately south of the 3Q Project brine lake.

PP1-D-5: This diamond drill hole (DDHH) identified porous sodium chloride interlayered with sand and conglomerates from surface down to 63 metres. Chemical results (based on 3 samples collected from surface down to 63 metres) yielded an average of 1024 mg/L lithium (including 20 metres with 1,400 mg/L Lithium); 8,080 mg/L potassium with a ratio of Mg/Li=1.66 and Sulfate/Li=0.5.

Platform 4: located 2 km south east of Platform 5.

PP1-D-4: This DDHH identified porous sodium chloride interlayered with sand and conglomerates from surface down to 69 metres. Chemical results (based on one sample from surface down to 69 metres) yielded 864 mg/l lithium and 7,482 mg/L potassium with a ratio of Mg/Li=1.85 and Sulfate/Li=0.77.

Platform 2: located 3 km south west of Platform 5

PP1-D-2: This DDHH identified fine sands and thin layers of salt from surface down to 66 metres. Chemical results (based on 6 samples from surface down to 66 metres) yielded an average grade of 766 mg/L of lithium (as reported on the January 10th 2017 press release) and 6,805 mg/L potassium with a ratio of Mg/Li=1.79 and Sulfate/Li=0.32.

PB1-R-2: This rotary well is located 20 metres from PP1-D-2. The well went down 80 metres. Chemical results (based on 6 samples collected from surface down to 80 metres) yielded an average grade of 733 mg/L of lithium; 6,738 mg/L potassium and with a ratio of Mg/Li=2.14 and Sulfate/Li=0.5. The small differences in chemistry with PP1-D-2 are within analytical and sampling error. The well is hosted in fine sands over the entire 80 meters, and is considered a single unconfined aquifer.

Drill Results Outside the Northern Target:

Platform 3: located 2 km south of the southern end of the Northern Target.

Results on this platform are very relevant because surface samples from this area showed only 190 mg/L lithium. Finding high grade lithium brine at depth could significantly extend the lithium bearing target to the south of the Northern Target.

PP1-D-3: This DDHH identified porous sodium chloride interlayered with sand and fine sands down 60 metres, followed by a massive and porous sodium chloride layer from 60 to 192 metres. Chemical results (based on 7 samples collected from surface down to 192 metres) yielded an average of 528 mg/L lithium and 4,797 mg/L potassium with a ratio of Mg/Li=2.6 and Sulfate/Li=0.63.

Platform 1: located outside the Northern Target in the alluvial fan 500 metres east of the 3Q Project brine lake.

PB1-R-1: This rotary well identified fresh water from 28 metres down to 38 metres depth and a brine aquifer between 38 and 50.5 metres depth. Five samples were collected in the brine aquifer with an average of 264 mg/L lithium. This low grade brine is interpreted to be a mixture of fresh water and brine and shows the lithium grade of the brine approximately 500 metres away of the 3Q Project brine lake.

With the results of PP1-D-3 outside the Northern Target the Company has decided to extend the drill program south of the Northern Target with 4 more platforms and 8 holes that will be drilled down approximately 300 meters.

“The results continue to show that the 3Q Project is a unique lithium discovery in terms of high grade, low impurities, size and productivity of the aquifers,” said Constantine Karayannopoulos, Chairman of Neo Lithium Corp. “The high lithium grades found at surface are being confirmed at depth across the Northern Target and now we found high grade lithium two kilometers south of the Northern Target, extending the exploration potential of the 3Q Project significantly.”

Pump Tests

Pump tests were completed using a rotary drill hole as a pump well and a diamond drill hole as a monitoring well. The pump used was a 15 horsepower, 6 inch submersible electric pump. Two pump test were completed, a 24 hour long step test and after a minimum 24 hours recovery, a second 72 hour long pump test. These tests are fundamental to evaluate the capacity of the salar to yield brine and measure lithium resources. So far, two pump tests have been completed, one on Platform 2 in the Northern Target and another on Platform 3 south of the Northern Target. These tests are preliminary and further test will be completed to verify these results.

Platform 2 Pump Test Results:
the pump tests demonstrate that the aquifer (which extends from surface down 80 metres) can produce 60 m3/h of brine, has a specific flow of 7.5 m3/h/m at a flow of 47.4 m3/h and has a storage coefficient (equivalent to drainable porosity) of 0.34.

Platform 3 Pump Test Results: the pump test demonstrates that the aquifer (which extends down 60 metres from surface) can produce 200 m3/h of brine, has a specific flow of 116 m3/h/m at a flow of 72 m3/h and has a storage coefficient (equivalent to drainable porosity) of 0.16.

“These initial pump test results are extraordinary in terms of production capacity and drainable porosity, and we will do longer pump tests to verify these extremely positive results,” said Dr. Perez, President and CEO of Neo Lithium. “In order to illustrate why the results are so impressive, one must take into account that one single hole that is able to produce 200 m3/h of brine at 800 mg/L lithium is the equivalent to 3,500 tonnes of lithium carbonate per year.”

Sample Collection (QA/QC)

The brine samples collected in the field were delivered by the Company to Andesmar Transport Company (“Andesmar”) in Catamarca city, in the province of Catamarca. Andesmar has delivered the samples by truck to Alex Steward Laboratories (“ASL”), an ISO 9001-2008-certified laboratory in Mendoza, Argentina. ASL used the following analytical methodologies: ICP-OES (inductively-coupled plasma-optical (atomic) emission spectrometry) to quantify boron, barium, calcium, lithium, magnesium, manganese, and potassium; an argentometric method to assay for chloride; a gravimetric method to analyze for sulfate; a volumetric analysis (acid/base titration) for the evaluation of alkalinity (as CaCO3); a gravimetric method to determine density and total dissolved solids; and, a laboratory pH meter to determine pH. All analytical work is subject to systematic and rigorous Quality Assurance-Quality Control. A reference (“standard”) sample was inserted into the sample stream at a frequency of approximately 1 in 15 samples; a field blank was inserted at a frequency of approximately 1 in 15 samples; and a field duplicate sample was inserted at a frequency of approximately 1 in 15 samples.

About Neo Lithium Corp.

Neo Lithium Corp. is quickly becoming a prominent new name in lithium brine exploration by virtue of its quality 3Q Project and experienced team. Already well capitalized, Neo Lithium is rapidly advancing its newly discovered 3Q Project — a unique high-grade lithium brine lake and salar complex in the Latin America’s Lithium Triangle.

The 3Q Project is located in the Province of Catamarca, the largest lithium producer in Argentina. The project covers approximately 35,000 ha and the salar complex within this area is approximately 160 km2. Surface exploration results indicate a high-grade lithium target in the northern portion of the salar complex extending for approximately 20 by 5 km with low magnesium and sulphate impurities. Low impurities are a key factor in traditional low cost evaporation techniques for final lithium carbonate production. Hot springs on the property with elevated lithium content are part of the recharge system of the salar complex.

The technical team that discovered this unique salar complex is one of the most experienced in lithium salars, having discovered and led the technical work, including resource definition and full feasibility study that established the Cauchari lithium salar as the third largest lithium brine resource in the world.

Viscount Mining Reports Additional High Grade Silver Intersections of Drill Holes at its Silver Cliff Property in Colorado

Viscount Mining Reports Additional High Grade Silver Intersections of Drill Holes at its Silver Cliff Property in Colorado

Viscount Mining Reports Additional High Grade Silver Intersections of Drill Holes at its Silver Cliff Property in Colorado

Viscount Mining Reports Additional High Grade Silver Intersections of Drill Holes at its Silver Cliff Property in Colorado

  • Drill Hole K16-01 assayed 1,778.5 g/t (57.2 oz/t) silver over a 20-ft. (6.1m) interval within a 50 ft. (15.2m) mineralized intersection averaging 837.4 g/t (26.9 oz/t)

VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to announce further drill results from the Silver Cliff property in the Hardscrabble Silver District of Custer County, Colorado (the “Property”). The 2016 drill program commenced in mid-November had as its primary objective the confirmation of information in reports on historical drilling on one of the Silver Cliff deposits known as the Kate Silver Resource (the “KSR“) by twinning historic holes.

Nine holes with a total of 1,502 ft. (457.8 m) were completed in the recent campaign and this release is reporting values from K16-01, K16-03, K16-04, K16-05, K16-06, and K16-08 from which core was assayed at ALS Canada Ltd., at their laboratories in Reno, Nevada, and Vancouver, BC. In the case of K16-08, core sampling and, hence, assaying inadvertently stopped at 173 feet (52.7 m), only 3 feet (0.9 m) past the historical intersection of silver mineralization. Viscount will extend the sampling of this hole when the next phase of work commences.

A summary of drill intersections for which assays have been received to date is presented below. The hole collars lie within a northeast trending corridor that is 833 ft. (254m) from K16-05 to K16-03. Holes K16-03 and -04 were drilled at -90° (vertical) and the others toward north at -60° to the horizontal. Although rock units dip or slope at 2° to 5° toward the east-southeast as noted under the heading “Silver Cliff Geology”, the present interpretation is that silver-bearing mineralization and silica have replaced portions of a porous limestone reef unit. Such replacement is typically uneven rather than uniformly tabular. Because of this and the early stage of drilling, true widths are not estimated.

1

Kaare Foy, Viscount Chairman stated: “We are very pleased with the drill program conducted in 2016 as it has demonstrated that there is significant silver mineralization that occurs at a shallow depth between 50 ft. (15.2m) to about 175 ft. (53.3m) that may be amenable to open pit mining. More drilling and a prefeasibility report will need to be done before an economic evaluation can be made. These results have prompted the Company to consider doing additional mapping, possible geophysical surveys and more strategically placed drill holes to outline the shape, dimensions, and potential grade. Once this is completed and if warranted by the results, a prefeasibility study will be considered that will include extensive metallurgical studies, mining methods, and costs.”

Silver Cliff Geology

The following information has been obtained from historical reports that describe the Kate silver prospect.

Structure in the area appears quite simple. Dips are to the east-southeast at 2o to 5o. Faulting is not obvious on the surface and a contour map of the surface of the lower obsidian suggest that no faults with more than 50 feet of displacement occur within the area of the Kate mineralization. Examination of PQ wireline core drilled in 1989 for a metallurgical sample, indicate; however, that faults with minor displacement are numerous.

Jim Ebisch reiterated what he stated in the December 21st news release, namely that “The 2016 drilling shows that the silver mineralization (blue-grey mineralization) is hosted predominantly by a gently-dipping, silicified carbonate reef that formed during a volcanic hiatus. The Kate Silver Resource (the “KSR”) at this juncture appears to be the result of simple carbonate replacement by silica-rich, silver/lead/zinc-bearing fluids adjacent to interpreted deep seated epithermal veins. These carbonate rock systems replaced by silicification–associated resources are commonly found over large lateral extents and the greatest promise for the KSR may eventually lie in undiscovered stacked horizons, in combination with high-grade epithermal veins that may underlie the KSR.”

About Silver Cliff Property

The Silver Cliff property lies within the historic Hardscrabble Silver District in Colorado. The Property consists of 96 lode claims where high grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property underwent substantial exploration between 1967 and 1984. The major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco Minerals.

The Silver Cliff Property is interpreted to encompass a large caldera and porphyry system which offers potential to host a number of deposits from both precious metals to base metals. This has been demonstrated in the mineralogy and grade historically extracted from numerous underground mining operations dating back to the late 1800s and early 1900s.

Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study which formed the company’s decision to put the property into production. Reported historical silver grades range from below detection to a high of 2,125 g/t (68 o/t) Ag over 13.4 metres. Reported historical gold grades range from below detection to a high of 9.06 g/t (0.29 o/t) Au over 1.2 metres. Plans were halted due to the restructuring of Tenneco after it was sold.

Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody

The Company has implemented a QA/QC program using best industry practices at the Silver Cliff Property. Drill core samples are sawn in half lengthwise and one half transported in securely-sealed bags to the ALS laboratory in Reno, Nevada, for analysis. Prior to transport, individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The sample pulps and rejects will be retrieved from ALS.  All samples were analyzed for Ag and 50 other elements by ALS method “Ultra Trace Aqua Regia ICP-MS” with code ME-MS41. In the case of Ag determined by this method to be in excess of 100 ppm, a further analysis for Ag was done utilizing method “Ore Grade Aqua Regia ICP-AES” with ALS code Ag-OG46. For the three 5-ft interval samples from K16-01 containing more than 1,500 ppm Ag, the ALS method “Ag 30g FA – GRAV finish WST-SIM” with code Ag- GRA21 was utilized.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)

Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines.  Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property.  Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement.  Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.

Asante Gold Announces Drill Program Planned On New Targets Keyhole Gold Option Ghana

Asante Gold Announces Drill Program Planned On New Targets Keyhole Gold Option Ghana

Asante Gold Announces Drill Program Planned On New Targets Keyhole Gold Option Ghana

Vancouver, British Columbia – January 18, 2017 – Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/OTC:ASGOF) (“Asante” or the “Company”) announces that it has compiled the data from the first of a series of ground geophysical IP (Induced Polarization/Resistivity) surveys to be completed at its Keyhole Gold option property in Ghana.

Seven distinct linear trending IP zones have been outlined which are interpreted to represent areas with increased sulfide mineralization. Sulfide concentrations (relative high IP values) in this structurally favourable Keyhole area are considered to be prime drill targets. The IP map is available at: http://www.asantegold.com/assets/img/memipnr18jan17.jpg  and the Resistivity map at:  http://www.asantegold.com/assets/img/memres-_nr18jan17.jpg .

IP was chosen as the preferred technique to outline high potential drill targets given the strong association of gold with sulfide mineralization in the Asankrangwa gold belt, such as at the Asanko (Obotan) gold mine located 40 km along the belt to the northeast.  The subdued topography, extensive and locally thick alluvial cover, and heavy weathering and laterization mask mineralization from detection by the direct prospecting, trenching and soil geochemical methods which were used by previous explorers in the area.
Drill collars to test the outlined targets for gold mineralization are being selected for a proposed 1200 metre diamond drilling program, planned to commence in early February 2017.
One of the proposed high IP drill targets corresponds with large angular quartz reef float noted in the heavily galamsey disturbed area of the historical MEM showing – where significant gold values were previously reported:  http://www.asantegold.com/assets/img/img_20161210_001315.jpg .

Please see our September 18, 2016 news release http://www.asantegold.com/news/asante-acquires-strategically-located-keyhole-gold-project-ghana and website http://www.asantegold.com/projects/keyhole-option  for further information.

On behalf of the Board,
“Douglas R. MacQuarrie”
President and CEO

Scientific and technical information contained in this news release has been supervised, reviewed and approved by Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Company, who is a qualified person (“QP”) under NI 43-101. The IP survey was completed and data compiled by Fred Akosah, MSc. Geophysics, a registered geophysicist – Ghana Institution of Geoscientist’s (GhIG) utilizing a 2.5kw  time domain IP system; pole dipole configuration n=1 to 6 ; 50 metre dipole separation; 25 metre station separation.

About Asante Gold Corporation
Asante and BXC Company (Ghana) Limited have entered into a C$19.5 million joint venture, subject to final closing, to develop our Kubi Gold Mining Leases as a potential near term underground operation; and Asante is exploring the Keyhole and Betenase options, the Fahiakoba and other concessions, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. Additional information is available on our web site at:  www.asantegold.com

For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: douglas@asantegold.com
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail:  d.kent@eastlink.ca
Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: kirsti.mattson@gmail.com
Rebecca Greco, Business Development, tel: +1 416-822-6483; E-mail: fighouse@yahoo.com
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail:  frram@aon.net

Alexandria Minerals Begins 12,500 Meter Winter Drill Program in Val d’Or

Alexandria Minerals Begins 12,500 Meter Winter Drill Program in Val d’Or

Alexandria Minerals Begins 12,500 Meter Winter Drill Program in Val d’Or

Alexandria Minerals Begins 12,500 Meter Winter Drill Program in Val d’Or

Toronto, Ontario, January 13, 2017 – Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) (“AZX” or the “Company”) is pleased to announce that it has begun a 12,500 meter winter drill program at Orenada Zone 4 and Triangle Too on its western Cadillac Break Properties in Val d’Or, Quebec.

Drilling started this week at Zone 4, where the Company has identified multiple, stacked, high-grade gold-quartz veins to a depth of roughly 300 meters. A second rig will begin drilling by early February on the Company’s Triangle Too project located 2 kilometers west of Orenada. These are follow-up programs which will build on important earlier-stage drill programs which were completed in the last half of 2016 at both locations.

Eric Owens, President and CEO of Alexandria, stated, “As a result of our recent $5.1 million over-subscribed financing, Alexandria is well capitalized to ramp up our exploration efforts. Our drill results from both Zone 4 and Triangle Too late last year were encouraging and exciting. We are testing for high grade vein sets in both locations, and are anticipating substantial progress this year. This winter program is our largest drill program since 2014 and will direct our activities for the remainder of the year.”

At Zone 4, recent Alexandria drilling has aided in the development of a new geologic model with focus on multiple, south-dipping, high-grade gold-quartz veins hosted within a broad zone of lower grade gold mineralization. Drill holes from recent Alexandria drilling have intersected up to 17.0 g/t gold, including 131.0 g/t gold over 0.4 m, within a broader zone grading 1.43 g/t gold over 158.5 meters (DDH OAX-15-054, see press release April 30, 2015).

The drill program at Triangle Too is an earlier stage program than that at Zone 4. Alexandria’s first-pass drill program late last year provided the Company’s first look at the subsurface geology on the project. Six of the seven holes, all shallower than 300 meters, intersected the critical geological ingredients that characterize this region, including gold-quartz veins, diorite plugs, and associated shear zones. The new round of drilling will follow-up by testing deeper on the diorite plugs, as well as drilling new, untested geophysical targets.

Additional Assay Results Forthcoming

Alexandria is also pleased to report that Company geologists have discovered unsampled drill core from pre-Alexandria drill holes at Zone 4, holes which have previously yielded assays similar to those in recent Alexandria drill holes. The Company has embarked on a re-logging and re-sampling campaign of all pre-Alexandria drill holes for which core exists.  In addition to providing new assays, this program will also provide greater detail of the high-grade gold veins at Zone 4.

Other Activities

Elsewhere, the Company is also pleased to report that Probe Metals Inc., with whom Alexandria has entered into an Option and Joint Venture Agreement on the eastern portion of Alexandria’s Cadillac Break properties, recently announced it will embark on an aggressive exploration program this year on the property. This program is designed to generate drill targets for testing in Q3 or Q4 of Probe’s fiscal year.

Program design, management, and Quality Control/Quality Assurance are conducted by Alexandria’s exploration group of which Phillippe Berthelot, P.Geo, is the Company’s Qualified Person. Mr. Berthelot has reviewed the results in this press release. The QA/QC program is consistent with National Instrument (“NI”) 43-101 and industry best practices and has been previously addressed in NI 43-101 reports found on the Company’s website or on www.sedar.com

Commodities ( Gold ) ( Silver ) ( Lithium )